Soccer: Edwards sells Manchester United stake

Former Manchester United chief executive Martin Edwards yesterday sold his significant stake in the English soccer club for more than £20 million ($62.32 million).

Edwards, now a non-executive director, sold 17 million stocks, representing a 6.54 per cent stake in the club.

The stake was bought by Scottish investor Harry Dobson, who becomes the third-highest stockholder at United after broadcaster BSkyB with 9.99 per cent and Irish entrepreneurs J. P. McManus and John Magnier with 8.65 per cent.